A better question is "Should I have a rental property in an LLC?"

When your LLC takes a loan, expect as members to personally guarantee the debt.

Thank you Murrieta Menifee Winchester Temecula Riverside Subic Bay LLC - 951-323-8417Licensed, reliable guy.

That was right up until we started purchasing rentals.We have an LLC so we actually pay $400 per year for our LLC to file and then another $150 for us to have our personal taxes done. 

For example, they have not sent us the rent they owned us for the last three months, and here is paperwork to show it is not in our account, here is the contract with them stating they would pay on this day each month, and here is the title of the house in my LLC/name to show you we own the property too.

I started my LLC in the summer and still working through some kinks getting website started for marketing.

Tax structuring and LLC advice you can get for a paid fee too.

Lots of loan options can close in an LLC, helocs usually need to close in your personal name.

And an argument could be made that since she doesn't own more than 50% of the property that the entire ownership structure of the property equates to a non-related party for you (much like an LLC). 

That makes your bookkeeping easier, and it can also provide liability protection if you hold title in an LLC.